SunPower Corp., a provider of storage and distributed generation energy services, has launched new low annual percentage rate (APR) loans for U.S. residential solar customers.

The new tariffs are expected to result in significantly lower monthly payments for homeowners who purchase solar power solutions from SunPower, lowering barriers to entry so more households can use clean solar power to generate their own electricity, manage their consumption and save money.

Interest in home energy systems has increased dramatically among residential customers due to the COVID-19 pandemic, extended seasons of wildfires and hurricanes, frequent outages and fluctuating utility rates. In the first nine weeks of the third quarter, SunPower saw a more than 50% increase in customer requested business consultations compared to the same period in 2019.

“Our new financing options advance our goal of giving homeowners control over their own energy at some of the most affordable rates on the market,” said Norm Taffe, executive vice president of North American chains at SunPower.

“These new, lower prices will allow more homeowners to switch to clean, renewable energy while saving money on their monthly energy costs,” he adds.

According to a July report from the energy research consultancy Mackenzie Wood, customer-owned facilities facilitated by loan financing have overtaken third-party ownership since 2019. SunPower’s new reduced financing rates – as low as 0.99% APR – are expected to accelerate the trend of customer ownership , allowing qualified homeowners to accumulate equity in their renewable energy. energy assets. With SunPower’s new 25-year low APR loan, homeowners can invest in a 6.0 kW solar power system for less than $ 100 per month.